GBP FULL FORM

GBP FULL FORM

Full Form of GBP : Great Britain Pound

What is the full form of GBP?

No:1. GBP stands for Great Britain Pound.
No:2. It is the currency of the Great Britain. Its official name is sterling pound but commonly it is known as the pound.
No:3. Its name is derived from a Latin word ‘Libra’ which indicates weight and balance.
No:4. It is the official currency of various countries like the United Kingdom, Jersey, Guernsey, Isle of Man, South Sandwich Islands, British Antarctic Territory, Saint Helena, etc.
No:5. GBP is the basic unit of British currency which is divide into one hundred pence. The singular form of pence is penny.
No:6. Sterling pound is the oldest currency of world which is still in use immensely.
No:7. It is the 4th most traded currency in the world. Coins and notes of GBP are produce by Bank of England.
No:8. Its official symbol is £ and its ISO code is GBP.

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Brief History

No:1. The 1st pound appeared in1489, in the reign of Henry VII.
No:2. It was called a sovereign as it was mark with an image of the king seated upon his throne.
No:3. The pound banknotes, which were hand-written in the beginning, issued after the establishment of Bank of England in 1694.
No:4. In 1797, the first pound note was issue as there was a need for smaller denomination banknotes to replace the gold coins during French Revolutionary Wars.
No:5. The pound continued with its complex system of shillings and pence until the decimal system arrived in 1971.
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